BT Group to Delist from NYSE

BT Group to Delist from NYSE Image Credit: BT

BT Group this week announced it intends to delist its American Depositary Shares from the New York Stock Exchange (NYSE) and terminate its American Depositary Receipt programme

BT intends to deregister its equity securities and the registered debt securities of its subsidiary, British Telecommunications in order to reduce reporting costs and complexity. BT said it remains committed to its US investor base and to customers and colleagues in the US, and to maintaining the highest standards of corporate governance and transparent financial reporting.

BT will provide written notice to the NYSE of its intention to delist its American Depositary Shares (ADSs). In relation to the delisting, BT intends to file a Form 25 with the US Securities and Exchange Commission (SEC) on 3 September 2019 and expects the delisting will become effective following the close of the market in New York on 13 September 2019, from which time BT’s ADSs will no longer be traded on the NYSE.

BT said it will continue to positively engage with US equity and debt investors, and its obligations to its existing bondholders will not be affected by the deregistration. BT also remains committed to its customers operating in the US.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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